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OTHER COMPREHENSIVE INCOME (Tables) | 6 Months Ended
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Dec. 30, 2023
Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Schedule of Components of Other Comprehensive (Loss) Income and Related Tax Effects | A summary of the components of other comprehensive income (loss) and the related tax effects for each of the periods presented is as follows:
|  |  | 13-Week Period Ended Dec. 30, 2023
| Location of Expense (Income) Recognized in Net Earnings |  | Before Tax Amount |  | Tax |  | Net of Tax Amount
|  |  | (In thousands)
Pension and other postretirement benefit plans: |  |  |  |  |  |  |
Reclassification adjustments: |  |  |  |  |  |  |
Amortization of prior service cost | Other expense, net |  | $ | 195 |  |  | $ | 49 |  |  | $ | 146 |
Amortization of actuarial loss, net | Other expense, net |  | 6,676 |  |  | 1,665 |  |  | 5,011 |
Total reclassification adjustments |  |  | 6,871 |  |  | 1,714 |  |  | 5,157 |
Foreign currency translation: |  |  |  |  |  |  |
Foreign currency translation adjustment | N/A |  | 163,084 |  |  | — |  |  | 163,084 |
Marketable securities: |  |  |  |  |  |  |
Change in marketable securities (1) | N/A |  | 4,359 |  |  | 915 |  |  | 3,444 |
Hedging instruments: |  |  |  |  |  |  |
Other comprehensive income (loss) before reclassification adjustments: |  |  |  |  |  |  |
Change in excluded component of fair value hedge | Other expense, net |  | 210 |  |  | 52 |  |  | 158 |
Change in cash flow hedges | Operating expenses (2) |  | (25,031) |  |  | (4,806) |  |  | (20,225) |
Change in net investment hedges | N/A |  | (22,361) |  |  | (5,620) |  |  | (16,741) |
Total other comprehensive (loss) before reclassification adjustments |  |  | (47,182) |  |  | (10,374) |  |  | (36,808) |
Reclassification adjustments: |  |  |  |  |  |  |
Amortization of cash flow hedges | Interest expense |  | 2,893 |  |  | 723 |  |  | 2,170 |
Total other comprehensive income (loss) |  |  | $ | 130,025 |  |  | $ | (7,022) |  |  | $ | 137,047 |
(1) | Realized gains or losses on marketa ble securities are presented within other (income) expense, net in the consolidated results of operations; however, there were no significant gains or losses realized in the second quarter of fiscal 2024.
(2) | Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges.
|  |  | 13-Week Period Ended Dec. 31, 2022
| Location of Expense (Income) Recognized in Net Earnings |  | Before Tax Amount |  | Tax |  | Net of Tax Amount
|  |  | (In thousands)
Pension and other postretirement benefit plans: |  |  |  |  |  |  |
Other comprehensive income before reclassification adjustments: |  |  |  |  |  |  |
Net actuarial gain, arising in the current year | Other expense, net |  | $ | (89,851) |  |  | $ | (22,463) |  |  | $ | (67,388) |
Settlements | Other expense, net |  | 315,455 |  |  | 78,864 |  |  | 236,591 |
Total other comprehensive income before reclassification adjustments |  |  | 225,604 |  |  | 56,401 |  |  | 169,203 |
Reclassification adjustments: |  |  |  |  |  |  |
Amortization of prior service cost | Other expense, net |  | 99 |  |  | 25 |  |  | 74 |
Amortization of actuarial loss, net | Other expense, net |  | 7,500 |  |  | 1,872 |  |  | 5,628 |
Total reclassification adjustments |  |  | 7,599 |  |  | 1,897 |  |  | 5,702 |
Foreign currency translation: |  |  |  |  |  |  |
Foreign currency translation adjustment | N/A |  | 241,814 |  |  | — |  |  | 241,814 |
Marketable securities: |  |  |  |  |  |  |
Change in marketable securities (1) | N/A |  | 1,511 |  |  | 317 |  |  | 1,194 |
Hedging instruments: |  |  |  |  |  |  |
Other comprehensive income (loss) before reclassification adjustments: |  |  |  |  |  |  |
Change in cash flow hedges | Operating expenses (2) |  | 1,189 |  |  | 986 |  |  | 203 |
Change in net investment hedges | N/A |  | (44,999) |  |  | (11,250) |  |  | (33,749) |
Total other comprehensive (loss) before reclassification adjustments |  |  | (43,810) |  |  | (10,264) |  |  | (33,546) |
Reclassification adjustments: |  |  |  |  |  |  |
Amortization of cash flow hedges | Interest expense |  | 2,893 |  |  | 723 |  |  | 2,170 |
Total other comprehensive income |  |  | $ | 435,611 |  |  | $ | 49,074 |  |  | $ | 386,537 |
(1) | Realized gains or losses on marketable securities are presented within other (income) expense, net in the consolidated results of operations; however, there were no significant gains or losses realized in the second quarter of fiscal 2023.
(2) | Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges.
|  |  | 26-Week Period Ended Dec. 30, 2023
| Location of Expense (Income) Recognized in Net Earnings |  | Before Tax Amount |  | Tax |  | Net of Tax Amount
|  |  | (In thousands)
Pension and other postretirement benefit plans: |  |  |  |  |  |  |
Other comprehensive income before reclassification adjustments: |  |  |  |  |  |  |
Net actuarial loss, arising in the current year | Other expense, net |  | $ | 672 |  |  | $ | 169 |  |  | $ | 503 |
Reclassification adjustments: |  |  |  |  |  |  |
Amortization of prior service cost | Other expense, net |  | 390 |  |  | 98 |  |  | 292 |
Amortization of actuarial loss, net | Other expense, net |  | 13,317 |  |  | 3,324 |  |  | 9,993 |
Total reclassification adjustments |  |  | 13,707 |  |  | 3,422 |  |  | 10,285 |
Foreign currency translation: |  |  |  |  |  |  |
Foreign currency translation adjustment | N/A |  | 54,890 |  |  | — |  |  | 54,890 |
Marketable securities: |  |  |  |  |  |  |
Change in marketable securities (1) | N/A |  | 3,163 |  |  | 664 |  |  | 2,499 |
Hedging instruments: |  |  |  |  |  |  |
Other comprehensive income (loss) before reclassification adjustments: |  |  |  |  |  |  |
Change in excluded component of fair value hedge | Other expense, net |  | 184 |  |  | 46 |  |  | 138 |
Change in cash flow hedges | Operating expenses (2) |  | 9,184 |  |  | 2,261 |  |  | 6,923 |
Change in net investment hedges | N/A |  | (22,361) |  |  | (5,620) |  |  | (16,741) |
Total other comprehensive (loss) before reclassification adjustments |  |  | (12,993) |  |  | (3,313) |  |  | (9,680) |
Reclassification adjustments: |  |  |  |  |  |  |
Amortization of cash flow hedges | Interest expense |  | 5,786 |  |  | 1,446 |  |  | 4,340 |
Total other comprehensive income |  |  | $ | 65,225 |  |  | $ | 2,388 |  |  | $ | 62,837 |
(1) | Realized gains or losses on marketable securities are presented within other (income) expense, net in the consolidated results of operations; however, there were no significant gains or losses realized in the first 26 weeks of fiscal 2024.
(2) | Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges.
|  |  | 26-Week Period Ended Dec. 31, 2022
| Location of Expense (Income) Recognized in Net Earnings |  | Before Tax Amount |  | Tax |  | Net of Tax Amount
|  |  | (In thousands)
Pension and other postretirement benefit plans: |  |  |  |  |  |  |
Other comprehensive income before reclassification adjustments: |  |  |  |  |  |  |
Net actuarial loss, arising in the current year | Other expense, net |  | $ | (89,851) |  |  | $ | (22,463) |  |  | $ | (67,388) |
Settlements | Other expense, net |  | 315,455 |  |  | 78,864 |  |  | 236,591 |
Total other comprehensive income before reclassification adjustments |  |  | 225,604 |  |  | 56,401 |  |  | 169,203 |
Reclassification adjustments: |  |  |  |  |  |  |
Amortization of prior service cost | Other expense, net |  | 198 |  |  | 50 |  |  | 148 |
Amortization of actuarial loss, net | Other expense, net |  | 16,686 |  |  | 4,167 |  |  | 12,519 |
Total reclassification adjustments |  |  | 16,884 |  |  | 4,217 |  |  | 12,667 |
Foreign currency translation: |  |  |  |  |  |  |
Foreign currency translation adjustment | N/A |  | 9,632 |  |  | — |  |  | 9,632 |
Marketable securities: |  |  |  |  |  |  |
Change in marketable securities (1) | N/A |  | (2,701) |  |  | (567) |  |  | (2,134) |
Hedging instruments: |  |  |  |  |  |  |
Other comprehensive (loss) before reclassification adjustments: |  |  |  |  |  |  |
Change in cash flow hedges | Operating expenses (2) |  | (34,820) |  |  | (8,633) |  |  | (26,187) |
Change in net investment hedges | N/A |  | (13,653) |  |  | (3,413) |  |  | (10,240) |
Total other comprehensive (loss) before reclassification adjustments |  |  | (48,473) |  |  | (12,046) |  |  | (36,427) |
Reclassification adjustments: |  |  |  |  |  |  |
Amortization of cash flow hedges | Interest expense |  | 5,767 |  |  | 1,442 |  |  | 4,325 |
Total other comprehensive income |  |  | $ | 206,713 |  |  | $ | 49,447 |  |  | $ | 157,266 |
(1) | Realized gains or losses on marketable securities are presented within other (income) expense, net in the consolidated results of operations; however, there were no significant gains or losses realized in the first 26 weeks of fiscal 2023.
(2) | Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges.
Schedule of Rollforward of Accumulated Other Comprehensive (Loss) Income | The following tables provide a summary of the changes in accumulated other comprehensive (loss) income f or the periods presented:
| 26-Week Period Ended Dec. 30, 2023
| Pension and Other Postretirement Benefit Plans, net of tax |  | Foreign Currency Translation |  | Hedging, net of tax |  | Marketable Securities, net of tax |  | Total
| (In thousands)
Balance as of Jul. 1, 2023 | $ | (839,541) |  |  | $ | (374,290) |  |  | $ | (31,966) |  |  | $ | (6,793) |  |  | $ | (1,252,590) |
Net actuarial loss arising in the current year | 503 |  |  | — |  |  | — |  |  | — |  |  | 503 |
Equity adjustment from foreign currency translation | — |  |  | 54,890 |  |  | — |  |  | — |  |  | 54,890 |
Amortization of cash flow hedges | — |  |  | — |  |  | 4,340 |  |  | — |  |  | 4,340 |
Change in net investment hedges |  |  |  |  | (16,741) |  |  |  |  | (16,741) |
Change in excluded component of fair value hedge | — |  |  | — |  |  | 138 |  |  | — |  |  | 138 |
Change in cash flow hedge | — |  |  | — |  |  | 6,923 |  |  | — |  |  | 6,923 |
Amortization of unrecognized prior service cost | 292 |  |  | — |  |  | — |  |  | — |  |  | 292 |
Amortization of unrecognized net actuarial losses | 9,993 |  |  | — |  |  | — |  |  | — |  |  | 9,993 |
Change in marketable securities | — |  |  | — |  |  | — |  |  | 2,499 |  |  | 2,499 |
Balance as of Dec. 30, 2023 | $ | (828,753) |  |  | $ | (319,400) |  |  | $ | (37,306) |  |  | $ | (4,294) |  |  | $ | (1,189,753) |
| 26-Week Period Ended Dec. 31, 2022
| Pension and Other Postretirement Benefit Plans, net of tax |  | Foreign Currency Translation |  | Hedging, net of tax |  | Marketable Securities |  | Total
| (In thousands)
Balance as of Jul. 2, 2022 | $ | (1,011,335) |  |  | $ | (501,517) |  |  | $ | 35,770 |  |  | $ | (4,972) |  |  | $ | (1,482,054) |
Net actuarial loss arising in the current year | (67,388) |  |  | — |  |  | — |  |  | — |  |  | (67,388) |
Settlements | 236,591 |  |  | — |  |  | — |  |  | — |  |  | 236,591 |
Equity adjustment from foreign currency translation | — |  |  | 9,632 |  |  | — |  |  | — |  |  | 9,632 |
Amortization of cash flow hedges | — |  |  | — |  |  | 4,325 |  |  | — |  |  | 4,325 |
Change in net investment hedges | — |  |  | — |  |  | (10,240) |  |  | — |  |  | (10,240) |
Change in cash flow hedges | — |  |  | — |  |  | (26,187) |  |  | — |  |  | (26,187) |
Amortization of unrecognized prior service cost | 148 |  |  | — |  |  | — |  |  | — |  |  | 148 |
Amortization of unrecognized net actuarial losses | 12,519 |  |  | — |  |  | — |  |  | — |  |  | 12,519 |
Change in marketable securities | — |  |  | — |  |  | — |  |  | (2,134) |  |  | (2,134) |
Balance as of Dec. 31, 2022 | $ | (829,465) |  |  | $ | (491,885) |  |  | $ | 3,668 |  |  | $ | (7,106) |  |  | $ | (1,324,788) |

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